I do believe we will have some good news soon enough.
The gas flow is increasing and is moving towards commercial levels. There should be with the data on the wells an upgrade to the reserves. There may be some good news regarding MGP once MGP has finalised its purchase (June/July) of the tenement next door and infrastructure as they need gas and they have the pipeline going to Townsville. Not to far to build a pipeline connecting Blue's well to their pipeline. I think only a few kilometres. If an agreement is reached with MGP Blue can start to make some $. Nothing could be announced though until the purchase has concluded and Blue negotiate a deal.
The government still has to release the final study of the Bowen B pipeline. The initial study was very positive.
We cant forget Blue raised 20mill to do the drilling of the wells, this has been done and we are all waiting on the results which does take time. The work has been done and the gas is flowing and we have been updated as dewatering is progressing.
Personally I have been accumulating shares over the last 5 months and have a very tidy amount. I cant see the share price being at these levels for much longer particularly if we get the announcements we are waiting for but it may still be a few months. Got to have patience. Didn't the GM say we are at the pointy end?
BLU Price at posting:
3.0¢ Sentiment: Buy Disclosure: Held
